Insurers Livery - 40 years old

An initiative within the insurance market during the 1970s brought together leading market figures who felt that it would be desirable for a livery company to be established for the insurance industry and so the ‘Company of Insurers’ was formed. It was incorporated in 1979 and that same year granted livery status and became the Worshipful Company of Insurers.

More recently, on 1 September 2015, the Company was privileged to be granted a Royal Charter, bestowed by Her Majesty the Queen following a Privy Council meeting at Buckingham Palace.

Membership of the Company is restricted to those engaged in or connected with the business of insurance. Application for Membership follows a quaint and colourful procedure, from attaining the ‘freedom of the City of London’ to being ‘clothed’ as a Liveryman. Today there are nearly 500 members of the Insurers’ Livery, a reflection of the success of the Company and the respect it has gained over those years

The aims of the Company are threefold:
• To foster the business of insurance
• To provide social interaction and exchange mutual information between members
• Charitable giving.

Significant charitable donations are made to support these aims, for example education, and to other causes in or linked to London and through affiliations with the Armed Forces, who traditionally receive support from many of the livery companies. The Company makes these grants through its Charitable Trust. Every Lord Mayor in their year of office has a chosen charity and the Insurers are pleased to be associated with and support these causes through donations from its Charitable Trust.

The Company seeks to promote standards of honourable practice and ethical behaviour and has, for a number of years, been engaged in work which led to the incorporation of ethics into the syllabus of the Chartered Insurance Institute and resulted in the publication of a set of Guiding Principles for ethical behaviour in the conduct of the insurance business.

The Company is keen to play a proper part in the life of the City Civic. This involves offering active support to the Lord Mayor in his efforts to promote the interests of the City at home and abroad and to taking a close interest in the City’s governance through the Court of Aldermen and the Court of Common Council. These two bodies carry the responsibility of ensuring the continuing success of the City as a leading global financial centre, from which the UK economy derives enormous benefit.

Allied to these serious purposes, the Company also seeks to provide opportunities for its members to enjoy good fellowship and exchange ideas and information in the furtherance of their own business, and thereby that of the City of London as an insurance marketplace, in accordance with time-honoured tradition and practice.

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